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  • 6.3.6-E-COMMERCE AND SUPPLY CHAIN MANAGEMENT-CONTRACT AND TITLE REGISTRY

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  • Contract and title registry

     
     

    The contract  will clearly define  which electronic messages replicate the provisions of the classic paper documents, such as contracts and bills of lading. It also provides data security and integrity, and establishes that these messages cannot be repudiated. These are all essential elements in electronic messaging.

    It would also establish  a central registry of titles (TR), so that legitimate transfer of title can be made, basically for  any type of negotiable documents, whether bills of lading, contracts, warehouse warrants or letters of credit.

    Of course, the legality of such a  system would have to be tested in a number of jurisdictions, between them covering many countries.